Lehman's Gruttadauria Planned
Run With Aliases, French Francs

By

Susanne Craig and

Charles Gasparino Staff Reporters of The Wall Street Journal

Updated Feb. 12, 2002 12:17 a.m. ET

Frank Gruttadauria spent months planning to bolt from Lehman Brothers Holdings Inc., developing aliases, paying cash for a silver Chevrolet Tahoe four-wheel drive he drove to a small house in Colorado Springs, Colo., and even carrying around British and French currencies in the event he fled the country, federal authorities say.

In the end, Mr. Gruttadauria turned himself in -- but not before allegedly defrauding investors of as much as $300 million from what the authorities now estimate to be 110 accounts over a 15-year...